On 19 December 2016, the Hong Kong Monetary Authority (“HKMA”) announced the launch of the Enhanced Competency Framework on Cybersecurity (“ECF-C”).
Hong Kong Monetary Authority Announces Enhanced Competency Framework on Cybersecurity
Hong Kong Monetary Authority Strengthens Cybersecurity Controls on Banks
The Hong Kong Monetary Authority (HKMA) is taking action to tackle cyber security in the banking sector in Hong Kong through the Cybersecurity Fortification Initiative (CFI) – a new comprehensive initiative announced on May 18, 2016, which aims to raise the level of cybersecurity of the banks in Hong Kong. This follows the Hong Kong Securities and Futures Commission’s (SFC) similar initiative of issuing the Circular to All Licensed Corporations on Cybersecurity (see our previous post).